-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SjHGqYB+hN6oUbaoTqM2tVph7eB29sDnyiTq1aDDdcEvE5rQATlkwPalpSGPNjMp 9ETVSOp8CxFS6+oXeNj4DA== 0001144204-10-032423.txt : 20100608 0001144204-10-032423.hdr.sgml : 20100608 20100608172015 ACCESSION NUMBER: 0001144204-10-032423 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100601 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20100608 DATE AS OF CHANGE: 20100608 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARBINET Corp CENTRAL INDEX KEY: 0001136655 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 133930916 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-51063 FILM NUMBER: 10885222 BUSINESS ADDRESS: STREET 1: 460 HERNDON PARKWAY, SUITE 150 CITY: HERNDON STATE: VA ZIP: 20170 BUSINESS PHONE: 7325099100 MAIL ADDRESS: STREET 1: 460 HERNDON PARKWAY, SUITE 150 CITY: HERNDON STATE: VA ZIP: 20170 FORMER COMPANY: FORMER CONFORMED NAME: ARBINET THEXCHANGE INC DATE OF NAME CHANGE: 20010312 8-K 1 v187708_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): June 1, 2010
 
ARBINET CORPORATION
(Exact Name of Registrant as Specified in Charter)
 
Delaware
  
0-51063
  
13-3930916
         
(State or Other Jurisdiction
of Incorporation)
  
(Commission
File Number)
  
(IRS Employer
Identification No.)
         
460 Herndon Parkway, Suite 150
Herndon, Virginia 20170
      
20170
(Address of Principal Executive Offices)
      
(Zip Code)
 
Registrant’s telephone number, including area code:  703-456-4100

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 1.01             Entry Into a Material Definitive Agreement.
 
On June 1, 2010, Arbinet Corporation (the “Company”) entered into a trade credit insurance policy with ACE American Insurance Company (the “Insurer”) covering the Company’s accounts receivables generated in rendering its telecommunications services. The policy supersedes and broadens the scope of the Company’s prior trade credit insurance policy with Euler Hermes ACI and underwriting services agreement with GMAC Commercial Finance LLC.

The Company manages the invoicing, credit risk and settlement of all traffic traded on its global electronic market for the trading, routing and settling of voice and data capacity (the “Exchange”) and is obligated to pay sellers on the Exchange regardless of whether it collects from buyers. The trade credit insurance policy is part of the Company’s integrated credit risk management program and is designed to help protect the Company from credit losses in the event of nonpayment of buyers on the Exchange. As long as the Company is in compliance with the terms and conditions of the policy, the benefits over the Company’s prior credit risk arrangements include non-cancellable credit limits for approved named buyers, a higher collateral base for current and future potential lenders and credit risk coverage for a larger number of customers and for a greater dollar amount.

The policy terminates on June 1, 2011 and is non-cancellable prior to the termination date, except (i) by the Insurer in the event the Company undergoes a change of control, (ii) by the Insurer in the event of non-payment of the premium by the Company, or (iii) automatically in the event of the Company’s insolvency.
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Arbinet Corporation
     
 
By:
/s/ Christie A. Hill
 
Name: 
Christie A. Hill
 
Title:
General Counsel and Secretary
 
Date:  June 8, 2010
 
 
 
 
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